this is tax law season where investors sell their losers to offset the gains they made. and people got gains galore. at a moment a few stacks are down, selling ibm and cat could be particularly brutal. once we get to 2014, there will still be plenty of more long-term problems here. ibm is being challenged by the cloud. its business is not in tune with the simple inexpensive nature of cloud computing. the whole watson thing, the race for the most powerful, analytical computer means nothing in this day and age. won jeopardy, sold. many companies provide excellent data analytics. you don't need ibm. ibm offers the fabled one-stop shop. but again, increasingly going a la carte, something we saw with dream force, a celebration of everything that ibm is not. accused ibm as being irrelevant and not offering companies anything close to a bargain. heavy hardware, big iron, no thank you. meantime, ibm spends much of its cash free throw flow buying back stock. it's a giant cyclical company without any real growth at all. i have to tell you if warren buffett weren't in this stock, i